ENT I 5.02 Quiz

Description

ENT I 5.02 Quiz
Chad Collins
Quiz by Chad Collins, updated more than 1 year ago
Chad Collins
Created by Chad Collins almost 7 years ago
40
0

Resource summary

Question 1

Question
What is the final cost to the business of a product priced at $40 with a 20% trade discount?
Answer
  • $35
  • $25
  • $22
  • $32

Question 2

Question
A business determines the final cost of a product purchased for resale by subtracting allowed discounts and transportation charges from which component?
Answer
  • List price
  • Net profit
  • Operation expenses
  • Accounts receivable

Question 3

Question
Businesses should set their selling prices at a level that will cause which situation?
Answer
  • Be lower than that of the competitors
  • Cover expected markdowns and expenses
  • Be equal to the cost of the goods
  • Ensure a high percent of profit

Question 4

Question
Clyde rented an ice cream truck in order to earn money for college. His truck rental is $200 per week and has a yearly license fee of $52. It costs him $200 for 500 ice cream bars that he plans to sell for $1.10 each. How many ice cream bars must Clyde sell each week in order to reach the break-even point?
Answer
  • 360
  • 252
  • 201
  • 288

Question 5

Question
Which is an appropriate selling price for a product with total costs of $10.00 and a gross margin of $5.00?
Answer
  • $7.50
  • $15
  • $10
  • $5

Question 6

Question
Which primary factors do business owners consider when determining the ceiling prices of their products?
Answer
  • Service fees and competition
  • Promotional efforts and cost
  • Interest rates and supply
  • Consumer perceptions and demand

Question 7

Question
Calculate the break-even point in dollars if a business has total fixed costs of $875,000; the unit selling price is $1,200; and the variable cost per unit is $700.
Answer
  • $2,700,000
  • $1,500,000
  • $1,200,000
  • $2,100,000

Question 8

Question
A business bought 144 items at $6.50 each and 120 items at $3.75 each. With a 10% off-season discount, what is the total cost to the business?
Answer
  • $1,119
  • $1,207
  • $1,247
  • $1,386

Question 9

Question
What is the break-even point in units for a business whose total fixed costs are $325,000, selling price per unit is $18, and variable cost per unit is $15.50?
Answer
  • $120,250
  • $130,000
  • $150,500
  • $180,550

Question 10

Question
What is the selling price from the following information: cost, $8.45; operation expenses, $.50; and profit, $.80?
Answer
  • $9.25
  • $8.95
  • $9.75
  • $7.15
Show full summary Hide full summary

Similar

3.1 Keywords - Marketing
Mr_Lambert_Hungerhil
Digital Marketing Strategy - The Essentials
Micheal Heffernan
What is Marketing?
Stephanie Natasha
Marketing and Distributing
Shannon Clarke
Design Tips for Non-Designers
Micheal Heffernan
Business Studies: Marketing
Harriet Glover
Calculating Content Marketing Strategy ROI
Rebecca Tarpey
6 Month Marketing Plan
Paddy Costello
Sensory Marketing
Paisley Williams
Chief Marketing Officer (CMO)
takhmina1995
Unit 3.1: Marketing
nk_